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Crack-up Boom 2022 onwards


Jesus Wept
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Jesus Wept

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Back in April 2020 - 4 weeks into the start of the pandemic I made the above post. 

18 months later it looks like there is now a high chance that a crack up boom is starting to gain momentum. 

Is this the end of the current FIAT based Financial System? If not imminent …will we get one more deflationary collapse before the final upwards spiral of a ‘dash to assets’ or is it full steam ahead to the (hyper) inflationary crack up boom? 
 

 

 

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Frank Hovis

Or maybe the "new normal" of low inflation and low interest rates has finally buckled.

My money would be on a rerun of the 70s with high inflation and high interest rates to try to tame it which will eventually succeed.  After government and individual debt has been mostly inflated away.

inflation-interest-rates-1900-2011.png

 

Oh, and a HOUSE PRICE CRASH caused by those high interest rates :DB|:D

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Jesus Wept

What Is a Crack-Up Boom? 

A crack-up boom is an economic crisis that involves a recession in the real economy and a collapse of the monetary system due to continual credit expansion and resulting in unsustainable, rapid price increases. This concept of a crack-up boom was developed by Austrian economist Ludwig von Mises as a part of the Austrian business cycle theory (ABCT).1
 

The crack-up boom is characterized by two key features: 1) excessively expansionary monetary policy that, in addition to the normal consequences described in ABCT, leads to out-of-control inflationexpectations and 2) a resulting bout of hyperinflation which ends in the abandonment of the currency by market participants and a simultaneous recession or depression.2

KEY TAKEAWAYS

  • A crack-up boom is the crash of the credit and monetary system due to continual credit expansion and price increases that cannot be sustained long-term.
  • In the face of excessive credit expansion, consumers' inflation expectations accelerate to the point that money becomes worthless and the economic system crashes.
  • The term was coined by Ludwig von Mises, a noted member of the Austrian School of Economics and personal witness to the damages of hyperinflation.

Understanding a Crack-Up Boom 

The crack-up boom develops out of the same process of credit expansion and the resulting distortion of the economy that occurs during the normal boom phase of Austrian business cycle theory. In the crack-up boom, the central bank attempts to sustain the boom indefinitely without regard to consequences, such as inflation and asset price bubbles. The problem comes when the government continuously pours more and more money, injecting it into the economy to give it a short-term boost, which eventually triggers a fundamental breakdown in the economy. In their efforts to prevent any downturn in the economy, monetary authorities continue to expand the supply of money and credit at an accelerating pace and avoid turning off the taps of money supply until it is too late.

In Austrian business cycle theory, in the normal course of an economic boom driven by the expansion of money and credit the structure of the economy becomes distorted in ways that eventually result in shortages of various commodities and types of labor, which then lead to increasing consumer price inflation. The rising prices and limited availability of necessary inputs and labor put pressure on businesses and causes a rash of failures of various investment projects and business bankruptcies. In ABCT this is known as the real resource crunch, which triggers the turning point in the economy from boom to bust.

 

As this crisis point approaches, the central bank has a choice: either to accelerate the expansion of the money supply in order to try to help businesses pay for the increasing prices and wages they are faced with and delay the recession, or to refrain from doing so at the risk of allowing some businesses to fail, asset prices to fall, and disinflation (and possibly a recession or depression) to occur. The crack-up boom occurs when the central bank chooses and sticks with the first option.

 

Economist Friedrich Hayek famously described this situation as like grabbing a "tiger by the tail."3Once the central bank decides to accelerate the process of credit expansion and inflation in order to head off any recession risk, then it continually faces the same choice of either accelerating the process further or facing an even greater risk of recession as distortions build in the real economy. 

 

As part of this process, consumer prices rise at an accelerating rate. Based on current price increases and market participants' understanding of central bank policy, consumer expectations of future inflation also rise. These create positive feedback that leads to accelerating price inflation that can far outstrip the rate of central bank money expansion and become what is then known as hyperinflation.

 

With each subsequent round of credit expansion and price increases, people can no longer afford the high prices, so the central bank must expand even more to accommodate these prices, which pushes the prices even higher. Instead of rising a few percent every year, consumer prices can rise by 10%, 50%, 100%, or more in a matter of weeks or days. The value of the currency depreciates drastically, and the financial system faces extreme stress.

 

The "crack-up" part of the crack-up boom occurs as money in the economy begins to lose its economic function as money. Price inflation accelerates to the point that money fails to fulfill its economic function and people abandon it in favor of barter or other forms of money. Under normal circumstances, money functions as a generally accepted medium of exchange, a unit of account, a store of value, and a standard of deferred payment. Hyperinflation undermines all of these functions, and as market participants stop using and accepting the money, the system of indirect exchange based on the use of money that makes up a modern economy "cracks-up."4

 

At this point, further expansion of the supply of money and credit by the central bank, no matter how rapid, has no effect as the economic stimulus or staves off recession. The economy turns the corner into recession despite the central bank's intention as the monetary system simultaneously breaks down completely, compounding the economic crisis.

 
History of the Crack-Up Boom 

The developer of the idea of the crack-up boom, Ludwig von Mises, who was an advocate of laissez-faire economics, a staunch opponent of all forms of socialism and interventionism, and a noted member of the Austrian School of Economics, wrote extensively on monetary economics and inflation during his career.

In the early 1920s, von Mises witnessed and decried hyperinflation in his native Austria and neighboring Germany.5 Von Mises played an instrumental role in helping Austria to avoid a crack-up boom but could do nothing but sit back and watch as the German Reichsmark collapsed one year later. He was adamant that not keeping credit expansion in check could pave the way for a deadlier dose of hyperinflation that would eventually bring the economy to its knees.

 

Von Mises describes the process later in his book Human Action. "f once public opinion is convinced that the increase in the quantity of money will continue and never come to an end, and that, consequently, the prices of all commodities and services will not cease to rise, everybody becomes eager to buy as much as possible and to restrict his cash holding to a minimum size," he said. "For under these circumstances, the regular costs incurred by holding cash are increased by the losses caused by the progressive fall in purchasing power."2

 

Examples of a Crack-Up Boom 

Several economies, other than Germany, have caved in after a period of credit expansion and hyperinflation, including Argentina, Russia, Yugoslavia, and Zimbabwe.2 A more recent example is Venezuela. Years of corruption and misfiring government policies have led the South American country's economy to collapse in a drastic fashion. As a result, millions of Venezuelans face poverty, food shortages, and blackouts.6 According to the International Monetary Fund (IMF), Venezuela's economy contracted by over 35% between 2013 and 2017. Rampant inflation hasn't helped.

 

By mid-2019, inflation in the country was reported to be as high as 10 million percent, meaning that a product that once cost the equivalent of one bolivar went on to cost the equivalent of 10 million bolivars.7 Things have gotten so bad that a monthly salary in Venezuela was reportedly not enough to even cover the cost of a single gallon of milk.8

 

Venezuela Inflation Rate: 1980—Present

A5B0AB9A-7D12-4322-987D-ED417ECA1CF7.thumb.jpeg.28aa0c0a937a2e20738ae5e4cad74848.jpeg

 

Special Considerations 

A crack-up boom is something that can only happen in an economy that relies on fiat money (in either paper or electronic form) and (usually) fiduciary media, as opposed to the gold standard or other physical commodity money, because the available stock commodity places a physical limit on the quantity of money that can be issued and the market discipline imposed by a convertible gold standard helps prevent the overissuance of credit.2 In the event that they ever become money, electronic cryptocurrencies whose underlying algorithms place inflexible limits on the quantity and rate that new units can be created (or mined) may provide a similar benefit of preventing hyperinflation and a crack-up boom.

 

Edited by Jesus Wept
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6 minutes ago, Jesus Wept said:

Or some physical gold and silver ? 

I’m coming around to the same thought. Defo physical. And a shovel. 1 for bunker, and 2 to hide gold.

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King Penda
1 hour ago, Frank Hovis said:

Or maybe the "new normal" of low inflation and low interest rates has finally buckled.

My money would be on a rerun of the 70s with high inflation and high interest rates to try to tame it which will eventually succeed.  After government and individual debt has been mostly inflated away.

inflation-interest-rates-1900-2011.png

 

Oh, and a HOUSE PRICE CRASH caused by those high interest rates :DB|:D

You lot will be laughing if you have 100k in the bank at 7% and are morgage free

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Talking Monkey
1 hour ago, Frank Hovis said:

Or maybe the "new normal" of low inflation and low interest rates has finally buckled.

My money would be on a rerun of the 70s with high inflation and high interest rates to try to tame it which will eventually succeed.  After government and individual debt has been mostly inflated away.

inflation-interest-rates-1900-2011.png

 

Oh, and a HOUSE PRICE CRASH caused by those high interest rates :DB|:D

Wouldn't the kids still have their yuge student loans though, I think the interest rate is linked to RPI. Also this time round can wage inflation keep up with general inflation. 

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Frank Hovis
12 minutes ago, King Penda said:

You lot will be laughing if you have 100k in the bank at 7% and are morgage free

If you look at the graph closely you'll see that interest lagged inflation for the first ten years or so and it was only into the 80s when interest overtook inlfation and people began to make a real return on their deposits.

If it does go that way then if NS&I are issuing any RPI +1% bonds then that's going to be a good investment.  I was piling about £30k a year into those from about 2005 before cashing them in to buy a house; they were tax free.

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Frank Hovis
6 minutes ago, Talking Monkey said:

Wouldn't the kids still have their yuge student loans though, I think the interest rate is linked to RPI. Also this time round can wage inflation keep up with general inflation. 

 

People have become accustomed to small to non-existent pay increases for years; they seem to have the attitude that that is simply the way it is.

What looks to be happening at present is that people with minimum wage jobs are realising that they are in demand so they're moving for minimum wage +10%, minimum wage +20% so that there is real price competition at these lower levels driven by people's ease of switching jobs.

It's going to be much stickier at the full time professional level; especially if people find themselves in a wfh job that they don't want to give up and return to commuting.

Student loans - would they have much effect?  The rates charged are high now relative to the silly 0.1% base rate;  RPI + a weighting IIRC.  There isn't a good reason to shoot them up to silly levels.

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King Penda
1 minute ago, Frank Hovis said:

 

People have become accustomed to small to non-existent pay increases for years; they seem to have the attitude that that is simply the way it is.

What looks to be happening at present is that people with minimum wage jobs are realising that they are in demand so they're moving for minimum wage +10%, minimum wage +20% so that there is real price competition at these lower levels driven by people's ease of switching jobs.

It's going to be much stickier at the full time professional level; especially if people find themselves in a wfh job that they don't want to give up and return to commuting.

Yes 35/50k area could get left behind % pay increases wize

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Talking Monkey
6 minutes ago, Frank Hovis said:

 

People have become accustomed to small to non-existent pay increases for years; they seem to have the attitude that that is simply the way it is.

What looks to be happening at present is that people with minimum wage jobs are realising that they are in demand so they're moving for minimum wage +10%, minimum wage +20% so that there is real price competition at these lower levels driven by people's ease of switching jobs.

It's going to be much stickier at the full time professional level; especially if people find themselves in a wfh job that they don't want to give up and return to commuting.

Student loans - would they have much effect?  The rates charged are high now relative to the silly 0.1% base rate;  RPI + a weighting IIRC.  There isn't a good reason to shoot them up to silly levels.

If I've understood that correct Frank does that lead to a compression of the salary differential between blue collar jobs and the middle manager type jobs. 

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Frank Hovis
7 minutes ago, King Penda said:

Yes 35/50k area could get left behind % pay increases wize

Yup.

1 minute ago, Talking Monkey said:

If I've understood that correct Frank does that lead to a compression of the salary differential between blue collar jobs and the middle manager type jobs. 

Absolutely and it's already been happening; @JoeDavola has also flagged this up.

And this salary compression means that people don't want promotions as they look at the pay increase and don't see it as being worth the extra work.

Where I am temping they have made two new appointments this year, I don't count myself, and they have both been at the middle manager level and gone to outside candidates.

Yet again no existing employees wanted the jobs; which is a pattern I've been seeing time and again, with rare exceptions, since about 2010.

This is bad on a general level as people are being less productive than they could be but also at an individual company level because instead of having people with a wealth of specific company experience working their way up you're having to parachute people into senior levels who have no experience of the company, its people or its systems.

The result is that the overall quality and productivity of the department steadily declines.

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HousePriceMania
16 hours ago, Frank Hovis said:

Or maybe the "new normal" of low inflation and low interest rates has finally buckled.

My money would be on a rerun of the 70s with high inflation and high interest rates to try to tame it which will eventually succeed.  After government and individual debt has been mostly inflated away.

inflation-interest-rates-1900-2011.png

 

Oh, and a HOUSE PRICE CRASH caused by those high interest rates :DB|:D

Look at the war years....

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Frank Hovis
13 minutes ago, HousePriceMania said:

Look at the war years....

 

I was hesitant to use those because of being on the gold standard until 1931.

Although if you look at 45 - 68 it's like a gentler version of the 70s with inflation exceeding interest for the first ten years and then interest staying above inflation for the remainder.

The underlying feature of the whole chart is that interest rates turn as slowly as oil tankers with both low rates and high rates persisting long after they should have been changed.  As though both governments and people become accustomed to a certain level of rates whatever is going on in the economy and it takes a lot to change the mindset of what interest rates "ought" to be.

 

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18 hours ago, Frank Hovis said:

If it does go that way then if NS&I are issuing any RPI +1% bonds then that's going to be a good investment.  I was piling about £30k a year into those from about 2005 before cashing them in to buy a house; they were tax free.

I wish I had put more in them. Still got about 10k in them. I suspect it really pisses them off that they can't just kill them and have to keep rolling them over. But they changed the RPI to CPI recently and the 1pc to 0.01pc.

Still looking at a 4pc + return though.

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18 hours ago, Frank Hovis said:

Yup.

Absolutely and it's already been happening; @JoeDavola has also flagged this up.

And this salary compression means that people don't want promotions as they look at the pay increase and don't see it as being worth the extra work.

Where I am temping they have made two new appointments this year, I don't count myself, and they have both been at the middle manager level and gone to outside candidates.

Yet again no existing employees wanted the jobs; which is a pattern I've been seeing time and again, with rare exceptions, since about 2010.

This is bad on a general level as people are being less productive than they could be but also at an individual company level because instead of having people with a wealth of specific company experience working their way up you're having to parachute people into senior levels who have no experience of the company, its people or its systems.

The result is that the overall quality and productivity of the department steadily declines.

I'm just deleting the internal "job opportunities" emails. It's just more shit and dealing with more wankers  for basically the same pay. 

Also living wage means, why would I bother stressing myself out not much more hourly.

Or pay Doris a bit more tax to use against me.

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Frank Hovis
9 minutes ago, 23rdian said:

I'm just deleting the internal "job opportunities" emails. It's just more shit and dealing with more wankers  for basically the same pay. 

Also living wage means, why would I bother stressing myself out not much more hourly.

Or pay Doris a bit more tax to use against me.

 

When I was signing on I subscribed to the civil service jobs site, evidence of looking for work, and haven't bothered to cancel it.

I am amazed by what they expect you to do / be able to do for such low salaries.

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On 22/11/2021 at 14:09, Frank Hovis said:

 

When I was signing on I subscribed to the civil service jobs site, evidence of looking for work, and haven't bothered to cancel it.

I am amazed by what they expect you to do / be able to do for such low salaries.

Husband of one of mrs spys friends works in some vague middle manager job in DTSL/civil servicey.

He - and the rest of group -  have all got non vocational degrees from good university. - geography, philosophy etc.

Hes OK, just a bit unemployable. And very vague on what he actually does - not in a top secret way, just in pointless meeting way.

Ive checked his site on the CS job board.

Theres sod all pay difference between, say a security guard with zilch GCSEs and a Phd - about 500/m more.

Now it might suit some people whove studied in a area where the only jobs are in the CS/UKGIOV research - you pays your money and take your chances.

However, iike every org out there, they are after a lot of software heads - a fucking lot. And rightly so - everywhere is reorging around its data and processes.

Thing is, they are asking for nuts skills -requirements are everywhere, not just high, sprawling. And they offering pay that just a bit more than a secretary. And about half the money that mrs spy mate hubby is on -despite the person they want being able to easily earn twice that in the private sector.

Its nuts.

The yare paying the middle mangers waaaay too much. But to keep the pay differential, they are offering the in demand skills stupidly low money.

Its got to the point where basically, unemployable mid to senior CS are trying to dictate the earnings of more skilled/employable people.

 

 

 

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11 hours ago, spygirl said:

Husband of one of mrs spys friends works in some vague middle manager job in DTSL/civil servicey.

He - and the rest of group -  have all got non vocational degrees from good university. - geography, philosophy etc.

Hes OK, just a bit unemployable. And very vague on what he actually does - not in a top secret way, just in pointless meeting way.

Ive checked his site on the CS job board.

Theres sod all pay difference between, say a security guard with zilch GCSEs and a Phd - about 500/m more.

Now it might suit some people whove studied in a area where the only jobs are in the CS/UKGIOV research - you pays your money and take your chances.

However, iike every org out there, they are after a lot of software heads - a fucking lot. And rightly so - everywhere is reorging around its data and processes.

Thing is, they are asking for nuts skills -requirements are everywhere, not just high, sprawling. And they offering pay that just a bit more than a secretary. And about half the money that mrs spy mate hubby is on -despite the person they want being able to easily earn twice that in the private sector.

Its nuts.

The yare paying the middle mangers waaaay too much. But to keep the pay differential, they are offering the in demand skills stupidly low money.

Its got to the point where basically, unemployable mid to senior CS are trying to dictate the earnings of more skilled/employable people.

Outside of apprentices the civil service know their IT staff aren’t paid enough which is why HMRC and DWP have a separate company through which they hire their IT staff.

DWP’s pay is still not brilliant but they do hit £100k for some rules.

and the Department of Education pay low market rate for their developers (£40-50K) which matches local (Northern perm rates).

 

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9 hours ago, eek said:

Outside of apprentices the civil service know their IT staff aren’t paid enough which is why HMRC and DWP have a separate company through which they hire their IT staff.

DWP’s pay is still not brilliant but they do hit £100k for some rules.

and the Department of Education pay low market rate for their developers (£40-50K) which matches local (Northern perm rates).

 

I knew someone who went to interview at MAFF when they fucked up farm payments.

He pretty much walked out in the first week.

Its not just they could not do software development. They also could not organise or structure teams of  anything.

I was reminded if this thread during Frank Gardiner, reporting in mi6's Mea shitta report that's out this morning.

MI6 must adapt to new technology to survive, says spy chief

https://www.bbc.co.uk/news/uk-59470026

He actually said - Spying, by putting a false moustache on, no longer with biometric passport ... mi6 have a small technology division, A, in Vauxhall's bridge.

Dire. Dire.

The spies, like the civil service, and big and small org are all having to invest and recruit software heads at a rapid rate.

The civil service/public sector have been try to recruit them by paying them like securities.

Most orgs that have not clicked that SW is core, have either by trying to outsource to Indian scammers or offering free coffee.

 

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11 hours ago, eek said:

Outside of apprentices the civil service know their IT staff aren’t paid enough which is why HMRC and DWP have a separate company through which they hire their IT staff.

DWP’s pay is still not brilliant but they do hit £100k for some rules.

and the Department of Education pay low market rate for their developers (£40-50K) which matches local (Northern perm rates).

 

A topical and timely example - 

MI6 boss warns of China 'debt traps and data traps'

https://www.bbc.co.uk/news/uk-59474365

He aint Smiley anymore.

A degree in ancient German languages no longer cuts it versus Ruskies and China techo-storm troop.

MI6 chief Richard Moore has warned of China's "debt traps and data traps" in his first live broadcast interview.

Mr Moore - known as "C" - told BBC Radio 4's Today programme these traps threatened to erode sovereignty and have prompted defensive measures.

 

TRAINING AND DEVELOPMENT At GCHQ, we’re proud to offer an inclusive and supportive working environment that encourages open minds and attitudes. As an organisation that values and nurtures talent, we are committed to helping you fulfil your potential. You’re not expected to come to us with a wealth of knowledge or skills on day one. We invest in our people - providing technical mentoring, training and support. ABOUT US As one of Britain’s intelligence agencies, we unlock the complex world of communications to make a real difference to the safety of the nation. We work closely with our partners in the intelligence community to safeguard Britain’s people, interests, and businesses from various threats. Think serious organised crime, such as people and drugs trafficking, or terrorism and cyber-attacks. It’s challenging and varied work that you won’t find anywhere else. At GCHQ, diversity and inclusion are critical to our mission. To protect the UK, we need a truly diverse workforce that reflects the society we serve. This includes diversity in every sense of the word: those with different backgrounds, ethnicities, gender identities, sexual orientations, ways of thinking and those with disabilities or neurodiverse conditions. We therefore welcome and encourage applications from everyone, including those from groups that are under-represented in our workforce. BENEFITS PACKAGE We have an excellent benefits package which includes 25 days holiday as standard (pro rata) increasing to 30 days after five years, various flexible working patterns and part time working options available, generous pension contributions and parental leave, and three days volunteering leave as well as flexibility to move to a new role/area after 2-3 years. THE ROLES Infrastructure Engineer (available in all locations) You’ll design, implement, support and maintain a complex and technologically advanced IT Infrastructure needed to meet the demands and pace of the full suite of missions across the intelligence agencies. Network Engineer (Cheltenham and London only) Designing, building, commissioning and supporting networks and making use of all the Network Management, Automation and Software Defined Network toolset to do so. If you understand how systems are configured, defended and thereby open to threats then we want to speak with you. Software Engineer (available in all locations) To work as part of an Agile DevOps team responsible for maintaining, developing and delivering bespoke software solutions and date-driven web applications. The role will focus heavily on automating manual processes and modernising legacy monolithic applications. REQUIREMENTS We’re looking for enthusiastic and motivated individuals from all backgrounds, with technical skills and a constant desire to stay on top of technology. It doesn’t matter where you are in your career, as long as you are interested in learning or have experience of working in a more technical role. You should be good at prioritising and able to remain focussed under challenging circumstances. A competent communicator you’ll expertly share knowledge and insight, with a range of customers and be comfortable working in small to medium-sized teams. Along with a passion for technology, an essential requirement for this role is - • Relevant work experience in an IT focused role and/or a STEM Degree It would be advantageous if you also have experience and/or interest in any of the following - • Experience of and interest in IT • Powershell, Exchange and M365 & EOP Support Skills • Directory Services, ISODE, DLP and MTAs • On-Premises and Cloud-Based messaging solutions • Programming languages such as Java, JavaScript, C++, Python, Node.js • Virtual Infrastructure such as VMware, Hyper V, AWS, Azure, Citrix, Microsoft RDS • Automated Deployment Technologies such as Puppet Ansible, Terraform • Operating Systems such as Linux, Windows, MAC os • Authentication and Authorisation technologies such as Oauth, PKI and Directory Services. • CISCO, WAN/LAN Technologies • LAN/WAN/Firewall technologies, e.g CISCO, JUNIPER • Agile Development Techniques You must also meet our nationality, residency, and security requirements. You can find more details here. SALARY £30,831 (package includes basic salary and concessionary payment) and we may offer you an additional one-off recruitment bonus which is dependent on skills and experience.

 

The average price for a property in Cheltenham is £381482 over the last year. Use Rightmove online house price checker tool to find out exactly how much ...

 

Im actually a bit shocked they are asking for Windows skills - hopefully these are not for inhouse systems.

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3 minutes ago, spygirl said:

A topical and timely example - 

MI6 boss warns of China 'debt traps and data traps'

https://www.bbc.co.uk/news/uk-59474365

He aint Smiley anymore.

A degree in ancient German languages no longer cuts it versus Ruskies and China techo-storm troop.

MI6 chief Richard Moore has warned of China's "debt traps and data traps" in his first live broadcast interview.

Mr Moore - known as "C" - told BBC Radio 4's Today programme these traps threatened to erode sovereignty and have prompted defensive measures.

 

TRAINING AND DEVELOPMENT At GCHQ, we’re proud to offer an inclusive and supportive working environment that encourages open minds and attitudes. As an organisation that values and nurtures talent, we are committed to helping you fulfil your potential. You’re not expected to come to us with a wealth of knowledge or skills on day one. We invest in our people - providing technical mentoring, training and support. ABOUT US As one of Britain’s intelligence agencies, we unlock the complex world of communications to make a real difference to the safety of the nation. We work closely with our partners in the intelligence community to safeguard Britain’s people, interests, and businesses from various threats. Think serious organised crime, such as people and drugs trafficking, or terrorism and cyber-attacks. It’s challenging and varied work that you won’t find anywhere else. At GCHQ, diversity and inclusion are critical to our mission. To protect the UK, we need a truly diverse workforce that reflects the society we serve. This includes diversity in every sense of the word: those with different backgrounds, ethnicities, gender identities, sexual orientations, ways of thinking and those with disabilities or neurodiverse conditions. We therefore welcome and encourage applications from everyone, including those from groups that are under-represented in our workforce. BENEFITS PACKAGE We have an excellent benefits package which includes 25 days holiday as standard (pro rata) increasing to 30 days after five years, various flexible working patterns and part time working options available, generous pension contributions and parental leave, and three days volunteering leave as well as flexibility to move to a new role/area after 2-3 years. THE ROLES Infrastructure Engineer (available in all locations) You’ll design, implement, support and maintain a complex and technologically advanced IT Infrastructure needed to meet the demands and pace of the full suite of missions across the intelligence agencies. Network Engineer (Cheltenham and London only) Designing, building, commissioning and supporting networks and making use of all the Network Management, Automation and Software Defined Network toolset to do so. If you understand how systems are configured, defended and thereby open to threats then we want to speak with you. Software Engineer (available in all locations) To work as part of an Agile DevOps team responsible for maintaining, developing and delivering bespoke software solutions and date-driven web applications. The role will focus heavily on automating manual processes and modernising legacy monolithic applications. REQUIREMENTS We’re looking for enthusiastic and motivated individuals from all backgrounds, with technical skills and a constant desire to stay on top of technology. It doesn’t matter where you are in your career, as long as you are interested in learning or have experience of working in a more technical role. You should be good at prioritising and able to remain focussed under challenging circumstances. A competent communicator you’ll expertly share knowledge and insight, with a range of customers and be comfortable working in small to medium-sized teams. Along with a passion for technology, an essential requirement for this role is - • Relevant work experience in an IT focused role and/or a STEM Degree It would be advantageous if you also have experience and/or interest in any of the following - • Experience of and interest in IT • Powershell, Exchange and M365 & EOP Support Skills • Directory Services, ISODE, DLP and MTAs • On-Premises and Cloud-Based messaging solutions • Programming languages such as Java, JavaScript, C++, Python, Node.js • Virtual Infrastructure such as VMware, Hyper V, AWS, Azure, Citrix, Microsoft RDS • Automated Deployment Technologies such as Puppet Ansible, Terraform • Operating Systems such as Linux, Windows, MAC os • Authentication and Authorisation technologies such as Oauth, PKI and Directory Services. • CISCO, WAN/LAN Technologies • LAN/WAN/Firewall technologies, e.g CISCO, JUNIPER • Agile Development Techniques You must also meet our nationality, residency, and security requirements. You can find more details here. SALARY £30,831 (package includes basic salary and concessionary payment) and we may offer you an additional one-off recruitment bonus which is dependent on skills and experience.

 

The average price for a property in Cheltenham is £381482 over the last year. Use Rightmove online house price checker tool to find out exactly how much ...

 

Im actually a bit shocked they are asking for Windows skills - hopefully these are not for inhouse systems.

They won't get anyone and Detica (sorry BAe Applied Intelligence) will continue to supply most people while paying market rates

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2 hours ago, spygirl said:

A topical and timely example - 

MI6 boss warns of China 'debt traps and data traps'

https://www.bbc.co.uk/news/uk-59474365

He aint Smiley anymore.

A degree in ancient German languages no longer cuts it versus Ruskies and China techo-storm troop.

MI6 chief Richard Moore has warned of China's "debt traps and data traps" in his first live broadcast interview.

Mr Moore - known as "C" - told BBC Radio 4's Today programme these traps threatened to erode sovereignty and have prompted defensive measures.

 

TRAINING AND DEVELOPMENT At GCHQ, we’re proud to offer an inclusive and supportive working environment that encourages open minds and attitudes. As an organisation that values and nurtures talent, we are committed to helping you fulfil your potential. You’re not expected to come to us with a wealth of knowledge or skills on day one. We invest in our people - providing technical mentoring, training and support. ABOUT US As one of Britain’s intelligence agencies, we unlock the complex world of communications to make a real difference to the safety of the nation. We work closely with our partners in the intelligence community to safeguard Britain’s people, interests, and businesses from various threats. Think serious organised crime, such as people and drugs trafficking, or terrorism and cyber-attacks. It’s challenging and varied work that you won’t find anywhere else. At GCHQ, diversity and inclusion are critical to our mission. To protect the UK, we need a truly diverse workforce that reflects the society we serve. This includes diversity in every sense of the word: those with different backgrounds, ethnicities, gender identities, sexual orientations, ways of thinking and those with disabilities or neurodiverse conditions. We therefore welcome and encourage applications from everyone, including those from groups that are under-represented in our workforce. BENEFITS PACKAGE We have an excellent benefits package which includes 25 days holiday as standard (pro rata) increasing to 30 days after five years, various flexible working patterns and part time working options available, generous pension contributions and parental leave, and three days volunteering leave as well as flexibility to move to a new role/area after 2-3 years. THE ROLES Infrastructure Engineer (available in all locations) You’ll design, implement, support and maintain a complex and technologically advanced IT Infrastructure needed to meet the demands and pace of the full suite of missions across the intelligence agencies. Network Engineer (Cheltenham and London only) Designing, building, commissioning and supporting networks and making use of all the Network Management, Automation and Software Defined Network toolset to do so. If you understand how systems are configured, defended and thereby open to threats then we want to speak with you. Software Engineer (available in all locations) To work as part of an Agile DevOps team responsible for maintaining, developing and delivering bespoke software solutions and date-driven web applications. The role will focus heavily on automating manual processes and modernising legacy monolithic applications. REQUIREMENTS We’re looking for enthusiastic and motivated individuals from all backgrounds, with technical skills and a constant desire to stay on top of technology. It doesn’t matter where you are in your career, as long as you are interested in learning or have experience of working in a more technical role. You should be good at prioritising and able to remain focussed under challenging circumstances. A competent communicator you’ll expertly share knowledge and insight, with a range of customers and be comfortable working in small to medium-sized teams. Along with a passion for technology, an essential requirement for this role is - • Relevant work experience in an IT focused role and/or a STEM Degree It would be advantageous if you also have experience and/or interest in any of the following - • Experience of and interest in IT • Powershell, Exchange and M365 & EOP Support Skills • Directory Services, ISODE, DLP and MTAs • On-Premises and Cloud-Based messaging solutions • Programming languages such as Java, JavaScript, C++, Python, Node.js • Virtual Infrastructure such as VMware, Hyper V, AWS, Azure, Citrix, Microsoft RDS • Automated Deployment Technologies such as Puppet Ansible, Terraform • Operating Systems such as Linux, Windows, MAC os • Authentication and Authorisation technologies such as Oauth, PKI and Directory Services. • CISCO, WAN/LAN Technologies • LAN/WAN/Firewall technologies, e.g CISCO, JUNIPER • Agile Development Techniques You must also meet our nationality, residency, and security requirements. You can find more details here. SALARY £30,831 (package includes basic salary and concessionary payment) and we may offer you an additional one-off recruitment bonus which is dependent on skills and experience.

 

The average price for a property in Cheltenham is £381482 over the last year. Use Rightmove online house price checker tool to find out exactly how much ...

 

Im actually a bit shocked they are asking for Windows skills - hopefully these are not for inhouse systems.

£30k for Python :wanker: they can go pound sand

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Just now, No One said:

£30k for Python :wanker: they can go pound sand

30k for everything I think.

This is the point I made earlier.

The people making the decision dont have a clue so they are kitchen sinking the skills list but beyond penny pinching the salaries.

Civil service management have to get used to technical skills being paid far more than managers.

 

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